Parthenon LLC Sells 410 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Parthenon LLC cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 0.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 101,288 shares of the company’s stock after selling 410 shares during the period. PepsiCo makes up approximately 2.1% of Parthenon LLC’s investment portfolio, making the stock its 16th largest position. Parthenon LLC’s holdings in PepsiCo were worth $17,224,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Legal & General Group Plc grew its holdings in shares of PepsiCo by 7.2% during the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after purchasing an additional 905,468 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in PepsiCo by 7.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock valued at $1,673,632,000 after buying an additional 700,092 shares during the period. Dimensional Fund Advisors LP raised its position in shares of PepsiCo by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock valued at $1,221,089,000 after buying an additional 561,465 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of PepsiCo by 1.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock worth $846,030,000 after acquiring an additional 57,322 shares during the period. Finally, Bank of Montreal Can boosted its position in shares of PepsiCo by 14.6% during the 2nd quarter. Bank of Montreal Can now owns 3,876,354 shares of the company’s stock worth $676,036,000 after acquiring an additional 492,888 shares in the last quarter. 73.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PEP has been the topic of several research analyst reports. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective on the stock. in a research note on Friday, September 20th. DZ Bank lowered shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target on the stock. in a report on Friday, July 19th. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. cut their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $183.92.

PepsiCo Trading Down 0.7 %

Shares of PEP traded down $1.09 during mid-day trading on Wednesday, reaching $163.25. 972,666 shares of the company were exchanged, compared to its average volume of 5,435,294. The business has a 50 day simple moving average of $172.02 and a two-hundred day simple moving average of $171.85. PepsiCo, Inc. has a 52 week low of $158.03 and a 52 week high of $183.41. The stock has a market capitalization of $223.98 billion, a PE ratio of 24.24, a PEG ratio of 3.06 and a beta of 0.53. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The business had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. During the same quarter in the previous year, the business earned $2.25 earnings per share. PepsiCo’s revenue for the quarter was down .6% on a year-over-year basis. On average, analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Company Profile

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.